FRSGlobal has announced the launch of its new liquidity risk solution, which will allow financial institutions to meet the requirements proposed by the Financial Services Authority’s (FSA) liquidity overhaul, as outlined in its consultation paper CP 08/22.
Thomas Brouwer, product manager, FRSGlobal, said: “The events of the past year have highlighted just how inadequate existing liquidity management, measurement and reporting regimes have been. As a result of this, liquidity risk has moved to the top of the regulatory agenda and FRSGlobal’s combined risk and regulatory platform meets the unique demands for integrated internal/external and risk/regulatory reporting.
“The FSA has been the first to show its cards, but we do not expect them to be alone in imposing stringent liquidity requirements. The financial and political landscape has undeniably changed – regulators across the globe cannot be seen to be lax on liquidity and financial institutions must prepare themselves for a host of associated changes.”
FRSGlobal says that it provides its customers with solutions for all aspects of the new liquidity regime including:
- Regulatory reporting – there will be nine new regulatory reports/data items for liquidity risk.
- Stress testing – firms will need to be able to conduct regular stress tests in order to identify sources of potential liquidity strain.
- Data management – firms will need to be able to source additional data for reporting requirements.
- Management reporting – firms will be required to have a robust management framework in place.
The solution is designed to ensure banks can comply with the requirements of The Bank of International Settlements (BIS) and local country interpretations by regional regulators, such as the FSA. By adopting the FRSGlobal integrated solution, financial institutions join the ‘compliance community’ provided by the FRSGlobal Centre of Risk & Regulation Excellence (CoR2E).
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